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china buying up u.s. companies on the cheap and we are paying interest on money we are borrowing from the communist company in the first place. a battery system is closed unless regalators stepped in. is it 123. >> it is a-123. >> gretchen: it went bankrupt. >> the judge holds an auction and a chinese company wins the auction and $256 million for a 123. china has the money. that's the bottom line. we have spent all of ours and china is buying up american assets like the battery company. the problem is, taxpayers have subicized a 123 and pumped in a grant and gave it to this outfit that is now bankrupt and china is picking up the pieces dirt cheap. the ball is in president obama's court. there is a committee that decides whether or not a foreign company can buy an american company. on what grounds do they wish to buy. is it in our national interest to sell to a chinese company. time geithner heads that committee and he will decide are we going to sell this dirt cheap to china or not. >> gretchen: oh, by th
china buying up u.s. companies on the cheap and we are paying interest on money we are borrowing from the communist company in the first place. a battery system is closed unless regalators stepped in. is it 123. >> it is a-123. >> gretchen: it went bankrupt. >> the judge holds an auction and a chinese company wins the auction and $256 million for a 123. china has the money. that's the bottom line. we have spent all of ours and china is buying up american assets like the...
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Dec 11, 2012
12/12
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CNBC
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china's m.o. is this. they basically buy american companies, strip them of technology and ship the jobs to china. case in point would be brantley helicopter. used to be in texas. 2009 china buys it. now all the production facilities are in jindao. this is the problem. the promise to keep the plant going. now a-123 is interesting. they have cutting edge technology which will be exported to china. that's the bigger issue. one company at a time, larry, is going over to china, helping to build their industrial base. and the other thing -- >> hang on a second. this is an important point. ann lee, i'd like to get something from this. okay? if the u.s. foreign investment advisory board okays the deal, fine. but they counterfeit our goods. the chinese have a lot to answer for. shouldn't we make a deal? we let them buy the company but we should make a deal and they should somehow stop all the pirating of our technology? >> i think the chinese government is already trying to crack down on counterfeiting and other th
china's m.o. is this. they basically buy american companies, strip them of technology and ship the jobs to china. case in point would be brantley helicopter. used to be in texas. 2009 china buys it. now all the production facilities are in jindao. this is the problem. the promise to keep the plant going. now a-123 is interesting. they have cutting edge technology which will be exported to china. that's the bigger issue. one company at a time, larry, is going over to china, helping to build...
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Dec 11, 2012
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by 2030, china will be the largest economy. they base it on the size of the economy, population, military spending, and investment in technology. >>> our fourth story, selling a fix. with just 2 d2 days until the fiscal cliff kicks in and we all go sailing off. we're hearing a lot of talk between the president and house speaker. apparently, these are behind closed doors because they're talking over or at or something not good at each other. here is president obama in detroit on his plan to raise taxes on families making more than $250,000 a year. >> that's a principle i won't compromise on because i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks. >> is the tough talk road show working for the president tonight? ben is a former press secretary for the obama campaign. he had a vacation that's why he looks healthy now. and republican strategist terry holt. good to see both of you. terry, i want to start with you. the most recent poll we have says by a margin o
by 2030, china will be the largest economy. they base it on the size of the economy, population, military spending, and investment in technology. >>> our fourth story, selling a fix. with just 2 d2 days until the fiscal cliff kicks in and we all go sailing off. we're hearing a lot of talk between the president and house speaker. apparently, these are behind closed doors because they're talking over or at or something not good at each other. here is president obama in detroit on his...
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Dec 11, 2012
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retail stocks that have exposure in china such as tiffany. >> i'm not a big fan of tiffany. that stock has been a very, very difficult stock. i do think that you want to look at pvh because of the warm weather in america, but after they bought calvin klein, that's the one i think you ought to look at. let it come in, warm weather is going to cause everybody to have jitters. i wish we could forget about politics. i'd love to discuss decker's or coach. until we get a deal, it's bad news for the market. even for cheap stock like apple. "mad money" will be right back. >>> high on biotech. medical innovations continue to help us. tonight, two companies with breakthrough products that are leading the charge. cramer is talking to the ceos of immunogen and seattle genetics, just ahead. and later, reenergized. pipelines, they're america's energy toll road and can provide investors with a secure source of dividends, but his investment in north dakota's oil rich bakken shale continues, cramer's looking for companies that are ready to expand. don't miss the ceo of enbridge energy. all c
retail stocks that have exposure in china such as tiffany. >> i'm not a big fan of tiffany. that stock has been a very, very difficult stock. i do think that you want to look at pvh because of the warm weather in america, but after they bought calvin klein, that's the one i think you ought to look at. let it come in, warm weather is going to cause everybody to have jitters. i wish we could forget about politics. i'd love to discuss decker's or coach. until we get a deal, it's bad news for...
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Dec 11, 2012
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china will be a big driver and india will be growing like china is today. they talk about how the world is changing. it's like no other time since the french revolution. remember in the late 18th century, the industrial revolution, except it's happening more quickly. it's taking a tenth of the time for china and asia to rise quickly. let me read to you something from the report, in the tectonic shift, asia will have surpassed north maeshg and europe combined in terms of global power, based upon gdp, population size, military spending and technological spending. china alone will probably have the largest economy, surpassing that of the united states a few years before 2030. people because of technology, people really have more power than they've ever had before, individuals have more power an that can also cause problems with, you know, people using technology for ill means. >> is this the whole report? >> the 140-page rundown. i'm sure the president gets a bigger one. >> this is an intelligence report. >> yes. >> why on earth would anyone buy a jillion doll
china will be a big driver and india will be growing like china is today. they talk about how the world is changing. it's like no other time since the french revolution. remember in the late 18th century, the industrial revolution, except it's happening more quickly. it's taking a tenth of the time for china and asia to rise quickly. let me read to you something from the report, in the tectonic shift, asia will have surpassed north maeshg and europe combined in terms of global power, based upon...
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china's demand. keep in mind china does not want to see destabilization of the reason nor does it want a tightening of sanctions or war in an already impoverished country which might lead to refugees streaming into their next door neighbor, china. >>> iran claims it decoded all of the data from a stealth cia spy drone it recovered last year, all of it. the revolutionary guard general claims the drone did not carry out missions before it went down near iran's border with afghanistan. iran claims it took control of the drone and brought it down, but it's still unclear whether iran's military actually captured it or if it simply crash landed somewhere in iranian territory. last week the iranians claims they captured another u.s. spy drone. the navy reports it's not currently missing any drones, so that would not stand to reason. >>> crowds of people saw somebody commit a murder in manhattan today, midday, on a busy sidewalk about a block from the famous carnegie hall and right outside a school building.
china's demand. keep in mind china does not want to see destabilization of the reason nor does it want a tightening of sanctions or war in an already impoverished country which might lead to refugees streaming into their next door neighbor, china. >>> iran claims it decoded all of the data from a stealth cia spy drone it recovered last year, all of it. the revolutionary guard general claims the drone did not carry out missions before it went down near iran's border with afghanistan....
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Dec 11, 2012
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the national intelligence counsel expects china will become the world's biggest economic power. but the u.s. remains the dominant military superpower and will become energy independent overall. we can expect to have 8.3 billion people on the planet. >>> as for more immediate concerns, the fiscal cliff is one day closer, with a stalemate over heading off huge tax increases and deep spending cuts at the start of the new year. president obama and house speaker john boehner are keeping tight-lipped about those talks. in michigan on monday, the president warned going over the fiscal cliff will cost jobs and send the country in a downward spiral. >>> colorado is now the second state after washington in which marijuana is now legal. that became the law yesterday, when the governor put a voter-approved amendment into the state's constitution. the implementation of the law will be worked out by a special task force. in a statement, the u.s. attorney noted that pot remains illegal, though, under federal law. >>> well, family and friends are remembering that navy s.e.a.l. who gave his life
the national intelligence counsel expects china will become the world's biggest economic power. but the u.s. remains the dominant military superpower and will become energy independent overall. we can expect to have 8.3 billion people on the planet. >>> as for more immediate concerns, the fiscal cliff is one day closer, with a stalemate over heading off huge tax increases and deep spending cuts at the start of the new year. president obama and house speaker john boehner are keeping...
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by 2030, just 17 years from now, china will likely have passed the u.s. to become the world's largest economy. the report says that overall, asia will top north america and europe with population, military spending and investing in technology. >> and one of the bright spots for the u.s., we are expected to become energy independent and the world's largest exporter by the year 2030. people talk about china and their booming economy over there, and this quantifies just how fast they are coming on. pretty amazing. >> the world's population is projected to rise to 8.3 billion from 7.1 billion. and demand for food will go up 35%, and demand for water, 40% more than current water supplies, making water a likely cause of regional conflict, particularly in south asia and the middle east. water and food. there's not going to be enough for us. >> what a bright future. >>> this morning, the streets of cairo promise to be packed today with protests for the egyptian capital. two separate million-man marches are planned as supporters and opponents of president mohamed
by 2030, just 17 years from now, china will likely have passed the u.s. to become the world's largest economy. the report says that overall, asia will top north america and europe with population, military spending and investing in technology. >> and one of the bright spots for the u.s., we are expected to become energy independent and the world's largest exporter by the year 2030. people talk about china and their booming economy over there, and this quantifies just how fast they are...
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jenna: china has a role in all of this as well? >> china has been backing both iran and north korea with regard to missiles and nukes. >> where can you point to as an example where sanctions have actually worked, when it comes to north korea or iran or anywhere? north korea is obviously still pursuing a very high-tech weapon. >> right. >> according to these reports they deny it. >> sure. >> to be fair when have sanctions really worked? worked5 and 2007 with regard to those financial sanctions i talked about. of course they also worked with south africa which is the prime example. they probably also worked with regard to yugoslavia when the country was going through some problems. sanctions can have an effect. not enough on their own but when you do that with other diplomacy, yeah, they can have a lot of effect on these regimes. iran right now is reeling because of the financial sanctions that the u.s. imposed on the central bank of iran. jenna: that is what many say. the big question do we see them test a nuclear weapon in the next
jenna: china has a role in all of this as well? >> china has been backing both iran and north korea with regard to missiles and nukes. >> where can you point to as an example where sanctions have actually worked, when it comes to north korea or iran or anywhere? north korea is obviously still pursuing a very high-tech weapon. >> right. >> according to these reports they deny it. >> sure. >> to be fair when have sanctions really worked? worked5 and 2007 with...
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and china is ready to overtake the u.s. sooner than you think. first, forget the fiscal cliff, because the economy is coming back. americans are feeling more optimistic about 2013 and if we play our cards right, we're going to see a new economic renaissance. td ameritrade recently surveyed folks on their outlook for the new year. 43% say they're downright optimistic about the economy and believe we're headed for a rebound. 45% are feeling good about their own finances, but we already know that things are starting to get better. look, we're adding jobs every month, consumer debt continues to shrink. stock markets are up. longer term, though. america will reap the rewards of its domestic energy boom and more oil and gas gets extracted. the drop in the price of natural gas is already helping utilities and factories compete. that's creating more american jobs. and there is more. housing will be the golden lining to the economic cloud that is hanging over this country. mortgage rates are at historic low and should stay that way for the next two years
and china is ready to overtake the u.s. sooner than you think. first, forget the fiscal cliff, because the economy is coming back. americans are feeling more optimistic about 2013 and if we play our cards right, we're going to see a new economic renaissance. td ameritrade recently surveyed folks on their outlook for the new year. 43% say they're downright optimistic about the economy and believe we're headed for a rebound. 45% are feeling good about their own finances, but we already know that...
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Dec 11, 2012
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greed to take jobs and cheap labor markets so they can get right to work law states in indonesia and china and then made right to work law here. it means it's a gap between the wealth and the workers. workers have a right to expect liberal wages, health care, education care, the right to vote protected, and educate their children. these rights are reasonable and should be enforced. >> reverend jackson, you and i have known each other a long time. did you ever think you would be in michigan leading a protest against right to work? >> i really did not. i think that the tea party has 150-year-old roots between what is -- the right it organize, collective bargaining and states rights. i never thought it would go this far north, and, yet, these workers in this state must fight back and draw a line in the sand. that's why i'm going to address a major one-day strike, maybe a one-day march on washington for massive and action to bring about the ship in the flow of the wind. >> reverend jesse jackson, bob king from the united autoworkers. thank you very much. i know it's a cold day. thanks for join
greed to take jobs and cheap labor markets so they can get right to work law states in indonesia and china and then made right to work law here. it means it's a gap between the wealth and the workers. workers have a right to expect liberal wages, health care, education care, the right to vote protected, and educate their children. these rights are reasonable and should be enforced. >> reverend jackson, you and i have known each other a long time. did you ever think you would be in...
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. >>> new world order, the economy growing at an enormous rate in china, and in a few years it will surpass the u.s. what it means, coming up. >>> dozens of homes damaged in the south, ripping off roofs and damaging trees. more to come. stamp watch, straight ahead. >>> lots to talk about this morning. the next two hours, we'll talk with steve israel. jeff sessions, sandy levin, rahm emanuel and businessman javier paolomarez, ed burns, frankie monday easy, and chuck leavell. "starting point" begins right now. welcome, everybody. "starting point" this morning, angry, united. bracing for protests in michigan as the state is poised to become the most unionized right to work state. as many as 10,000 unionized workers expected at the state capitol to voice their disapproval of the measure. some of them teachers, two detroit area school districts shut down for the day as hundreds of teachers plan to join the protest. president obama brought it up during a trip to a daimler truck factory in redford, michigan. this is what he said. >> this so-called right to work law, they don't have to do with econ
. >>> new world order, the economy growing at an enormous rate in china, and in a few years it will surpass the u.s. what it means, coming up. >>> dozens of homes damaged in the south, ripping off roofs and damaging trees. more to come. stamp watch, straight ahead. >>> lots to talk about this morning. the next two hours, we'll talk with steve israel. jeff sessions, sandy levin, rahm emanuel and businessman javier paolomarez, ed burns, frankie monday easy, and chuck...
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Dec 11, 2012
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china sees it. we have to see it. china is insinuating itself into the economy of mayor -- major african nations. they are offering loans, their contracts, their engineers and their investments in africa. we are not. we're going to rue the day. africa is a great opportunity for us, and this bill addresses it. i sincerely hope that my colleagues in the senate will take a look at the statement which i'm placing in the record and consider supporting this greater exports to africa trade bill. this is something we can do to increase jobs in america, increase trade with africa and really build those countries which share our values. the difference between the united states, china and other countries, we come to the marketplace with values. we have to make certain those values are protected. we can only do it if we are honest traders and actively engaged in expanding the market for our goods and services. mr. president, i ask unanimous consent that this statement in its entirety be entered in the record and i yield the floor
china sees it. we have to see it. china is insinuating itself into the economy of mayor -- major african nations. they are offering loans, their contracts, their engineers and their investments in africa. we are not. we're going to rue the day. africa is a great opportunity for us, and this bill addresses it. i sincerely hope that my colleagues in the senate will take a look at the statement which i'm placing in the record and consider supporting this greater exports to africa trade bill. this...
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i think one of the interesting -- i think there's always china, europe, and the congress who can mess this up, but i think it's going to be pretty hard to stop this recovery. we have done everything we can to do it. we can probably do it again if we try hard. i think we won't succeed this time. >> we talked that brings up a good point. we haven't talked about job creation yet and the polling shows that's a big concern for americans. particularly for the long-term unemployed who have been left behind a little bit in the economic recovery, do you feel like the president and congress is doing enough to address that problem? and what politically and realistically could be done in the next four years? yeah. >>, i mean, i think the president is committed to this, i think that he would like to see i think see unemployment insurance -- and he would like to see, if possible, the extension of the payroll tax cuts. we have at the center for progress we released a deficit and revenue plan that calls for $400 billion in short term. we think there's a need for investing in infrastructure and roads
i think one of the interesting -- i think there's always china, europe, and the congress who can mess this up, but i think it's going to be pretty hard to stop this recovery. we have done everything we can to do it. we can probably do it again if we try hard. i think we won't succeed this time. >> we talked that brings up a good point. we haven't talked about job creation yet and the polling shows that's a big concern for americans. particularly for the long-term unemployed who have been...
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people say, how do we compete with china? we can have the entire world at our disposal and start businesses. then we have to focus on tax and the corporate tax reform to get a system that is simpler and makes it easier for businesses to compete in the world. that will be enormous. there is an infrastructure investment that needs to be made. this is important with the budget deal going forward. we have to think about what our values are. we can spend money on infrastructure to make investments in the future rather than having short-term spending. support for basic research and for higher education, as drew talked about. tell us what is and we can plan around it with respect to health care costs and energy costs. then it businesses can create a renaissance of american competitiveness. >> i think that is a brilliant agenda. i don't think that has changed. let's assume we go through the fiscal cliff. immigration, investments. you are not going to do a dream act. we had a chance to do it. george bush, john mccain. maybe the republ
people say, how do we compete with china? we can have the entire world at our disposal and start businesses. then we have to focus on tax and the corporate tax reform to get a system that is simpler and makes it easier for businesses to compete in the world. that will be enormous. there is an infrastructure investment that needs to be made. this is important with the budget deal going forward. we have to think about what our values are. we can spend money on infrastructure to make investments...
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want them in lexington, kentucky or china? >> you mentioned germany. volkswagen opened a plant in chattanooga a few months ago, 2,000 new jobs. bob corcoran was down there. 2,000 jobs, every one of which started at $14.50 an hour. >> right. they're not all going to be at -- >> so volkswagen was moving these jobs here because we're the low wage country compared to germany. >> dude, are you suggesting we push these jobs away? >> i'm not. >> i would rather americans have a shot at a $17 an hour job than having it in china. >> i agree. >> find a way to do better. i actually agree with you. but you have to understand the consequences are pretty severe for american lifestyles. >> again, though, i'm sorry, mike, but the consequences are, we have two choices, we can't get 1965 wages, we either have these jobs in china or lexington, either have them in alabama or germany and this is at least for some of -- a chance for younger americans to get some good jobs. >> joe, if you're taking a job that pays $14.50 an hour. it means one of two things, a, you don't have
want them in lexington, kentucky or china? >> you mentioned germany. volkswagen opened a plant in chattanooga a few months ago, 2,000 new jobs. bob corcoran was down there. 2,000 jobs, every one of which started at $14.50 an hour. >> right. they're not all going to be at -- >> so volkswagen was moving these jobs here because we're the low wage country compared to germany. >> dude, are you suggesting we push these jobs away? >> i'm not. >> i would rather...